Exhibit 99.1 avidxchange" AvidXchange Announces First Quarter 2024 Financial Results • Strong across-the-board year-over-year Q1'24 financial performance driven by yield expansion, transaction growth, unit cost reduction and operating expense discipline • Q1'24 operating income loss of $(4.1) million more than halved versus a loss of $(17.1) million in the comparable year-ago period • Q1'24 adjusted EBITDA up sharply to $17.7 million vs. $0.4 million in the comparable year-ago period • Sustaining a strong b ...

Core Insights - AvidXchange is transforming accounts payable (AP) processes for middle-market companies through software-enabled solutions, addressing unique challenges in supplier and vendor payments [1][4][5] - The automation of AP is becoming a priority for companies to reduce costs and enhance efficiency, particularly in the middle-market segment [3][4] Company Overview - AvidXchange is a leading provider of AP automation software and payment solutions, serving over 8,000 buyer customers and facilitating payments to more than 1,200,000 suppliers over the past five years [5][6] - The company operates on a Software-as-a-Service (SaaS) model, digitizing and automating AP workflows [5] Industry Context - The middle-market segment faces significant issues with late payments, which can lead to late fees and financial distress [3][4] - Financial fraud is a notable threat to middle-market companies, highlighting the need for robust safeguards and educated professionals in the FinTech space [4][7] Educational Initiatives - Creighton University's Heider College of Business is developing a new FinTech major to prepare students for careers in innovative financial technology, emphasizing the importance of staying current with industry advancements [4][7]

CHARLOTTE, N.C., April 09, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (NASDAQ:AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced that its first quarter 2024 ended March 31, 2024, financial results will be released on Wednesday, May 8, 2024. AvidXchange will host a conference call at 10:00 AM ET on May 8, 2024, to discuss the company's financial results. The call will be broadcast live via web ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about AvidXchange Holdings, Inc. (AVDX) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.AvidXchange currently has an average brokerag ...

Company Performance - AvidXchange Holdings, Inc. (AVDX) closed at $12.91, reflecting a +1.25% change from the previous session, outperforming the S&P 500's daily gain of 0.57% [1] - The company's shares have appreciated by 3.91% over the past month, surpassing the Computer and Technology sector's gain of 3.42% and the S&P 500's gain of 2.97% [1] Earnings Estimates - The upcoming earnings disclosure is anticipated to report an EPS of $0.03, indicating a 250% rise compared to the same quarter of the previous year [1] - The consensus estimate projects revenue of $101.76 million, reflecting a 17.2% increase from the equivalent quarter last year [1] - For the full year, earnings are projected at $0.18 per share and revenue at $444.13 million, representing changes of +157.14% and +16.66% from the prior year, respectively [2] Analyst Revisions and Rankings - Recent changes to analyst estimates for AvidXchange Holdings, Inc. indicate positive sentiment regarding the company's business outlook [2] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks AvidXchange Holdings, Inc. at 3 (Hold) [3] - Over the last 30 days, the Zacks Consensus EPS estimate has increased by 56.25% [3] Valuation Metrics - AvidXchange Holdings, Inc. has a Forward P/E ratio of 69.86, which is a premium compared to the industry's average Forward P/E of 30.15 [3] Industry Context - The Internet - Software industry is part of the Computer and Technology sector, holding a Zacks Industry Rank of 42, placing it in the top 17% of all 250+ industries [3]

The most recent trading session ended with AvidXchange Holdings, Inc. (AVDX) standing at $12.91, reflecting a -0.15% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 1.12%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 1.54%.Prior to today's trading, shares of the company had gained 5.64% over the past month. This has outpaced the Computer and Technology sector's loss of 0.4% and the S&P 500's gain of 2.06% in that time ...

CHARLOTTE, N.C., March 07, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (NASDAQ:AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced that members of the management team will participate in the Wolfe FinTech Forum 2024 in New York, NY on Wednesday, March 13, 2024 at 8:45 AM ET. A live webcast of the presentation will be available on the Events page of the AvidXchange investor relations website at ...

sanfel Elevator Pitch AvidXchange Holdings, Inc. (NASDAQ:AVDX) shares are still assigned a Buy investment rating. My prior November 10, 2023 article reviewed AvidXchange's results for the third quarter of last year. I touch on AVDX's Q4 2023 performance and FY 2024 outlook in this latest update. The company's latest quarterly EBITDA and forward-looking EBITDA guidance beat the analysts' expectations. The stock is undervalued relative to peers, and I view the expected achievement of the Rule of 40 target ...

van UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________. Commission File Number: 001-40898 AvidXchange Holdings, Inc. (Exact name of registrant as specified in its charter) Delaw ...

Financial Data and Key Metrics Changes - The company achieved its first-ever revenue quarter exceeding $100 million, with Q4 2023 revenue at $104.1 million, a 20.8% increase year-over-year [6][31] - Adjusted EBITDA for Q4 2023 was $16.9 million, marking a significant improvement from a loss of approximately $1.3 million in Q4 2022 [39] - Gross profit increased by 34.8% to $67.3 million, resulting in a gross margin of 64.6% for Q4 2023, compared to 57.9% in Q4 2022 [36] Business Line Data and Key Metrics Changes - Software revenue rose by 10.1% to $29 million, accounting for 27.9% of total revenue, driven by a 6.1% increase in total transactions [34] - Payment revenue increased by 25.5% to $74.2 million, representing 71.3% of total revenue, with interest revenues contributing $13.7 million in Q4 2023 [35] - Transaction yield reached $5.45 in Q4 2023, up 13.8% from $4.79 in Q4 2022, primarily driven by pay and software yield expansion [33] Market Data and Key Metrics Changes - The total number of buyer customers increased by 8.1% to 8,000, while supplier customer count grew by 24% in 2023 [12][14] - Total payment volume approached $76 billion in 2023, reflecting an 11% year-over-year increase, with spend under management rising 7.4% to $230 billion [14][15] - The net transaction retention rate was 101%, despite macroeconomic pressures affecting discretionary spending [17] Company Strategy and Development Direction - The company aims to reach $1 billion in revenue in the coming years, focusing on a $40 billion addressable market opportunity [9] - Key strategic partnerships were established with AppFolio and M3 to enhance market penetration in the real estate and hospitality sectors [20][21] - The company plans to launch a new spend management platform in 2024, targeting non-invoice-based expenses to provide a comprehensive expense management solution [24][70] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic challenges but expressed confidence in the company's ability to navigate these conditions and achieve growth targets [41][75] - The guidance for 2024 anticipates total revenue between $441 million and $447 million, reflecting a cautious approach to political media revenue and the decommissioning of certain products [41][42] - The company expects to maintain adjusted EBITDA profitability in the range of $67 million to $71 million for 2024 [42] Other Important Information - The company ended 2023 with a strong balance sheet, including a net cash position of over $374 million [20] - The focus on cost efficiency and unit cost reduction initiatives led to a gross margin expansion of 540 basis points to 69.4% in 2023 [19] Q&A Session Summary Question: Can you comment on the macro pressure factored into the guidance? - Management indicated that the guidance contemplates continued macro conditions experienced in 2023, with no expected changes [44][45] Question: What is the assumption on political spend for 2024? - The guidance includes $9 million in political revenue, reflecting a cautious approach due to the unpredictability of political advertising cycles [46][47] Question: Can you discuss the growth in core payments and ePay? - Management noted strong growth driven by yield expansion and a shift towards digital payments, with ongoing efforts to reduce checks in the system [51][52] Question: What are the expectations for supplier growth and monetization? - Supplier growth was consistent with previous years, with a focus on increasing monetization through various payment modalities [61][63] Question: What is the outlook for the spend management product launch? - The spend management platform is expected to launch with initial customers in late 2024, aiming to capture a larger share of customer expenses [70][71]